Textile And Clothing Industry: The Performance Of The Interim Report Has Been Disclosed, And The Performance Is More Than Expected

Market review: textile industry last week clothing The absolute yield of the sector was -4.78%, with the Shanghai Composite Index rising by 2.13% and the Shanghai Shenzhen 300 Index rising by - 3.11% over the same period. The textile and clothing sector underperformed the market by 1.66 percentage points. The absolute rate of return of the textile sector is -3.48%, the relative rate of return is -0.37%, the absolute rate of return of the clothing sector is -5.82%, and the relative rate of return is -2.69%.

The overall trend of the textile and clothing industry segment is weak, with seven industry segments falling. The top two industry segments falling are the export textile and leisure clothing industry, with an average increase or decrease of -2.83% and -4.57% respectively. Women's clothing and home textile industries ranked the second after the increase and decrease, with an average increase of - 8.11% and - 9.04%. The performance of the home textile industry has repeatedly been lower than the market expectations, and the stock price is in a downward adjustment channel. At present, the operating environment of export textile enterprises is relatively severe. Due to the large decline in the early stage, the decline in this week is relatively small.

Industry News

1) The Global Cotton Supply and Demand Outlook predicts that the global cotton supply will reach 35.5 million tons from 2011 to 2012, an increase of 4%. The officials of the U.S. Department of Agriculture predict that the U.S. cotton output will increase by 13%, and Brazil will also have a large cotton harvest. However, as the largest cotton importer and consumer, China has accumulated a large number of stocks, reducing market demand. 2) On August 30, the China Textile Industry Federation held a press conference on the economic situation and future trend of China's textile industry from January to July this year.

Trends of listed companies.

Last week was China Daily In the last week of the announcement, a total of seven listed companies released interim reports last week: Jiaxin Silk, Baoxiniao, Mengjie Home Textile, Jialinjie, Meibang Clothing, Sima Clothing, and BOC Velvet. Industry related data last week, the COTLOOKA index rose 0.12% slightly to 86.5 cents/lb. Domestic 328 grade cotton increased slightly by 0.49 percentage points. The overall trend of chemical fiber raw materials was weak, with viscose staple fiber down -0.03 percentage points and polyester staple fiber up 1.22 percentage points. We believe that the short-term internal and external demand is insufficient to drive the price rise. A new round of national collection and storage will be launched, which will have a certain supporting effect on domestic prices.

Investment advice

By the end of last week, the Chinese reports of listed companies had been released. The performance of many companies was lower than expected, and the performance of the industry segments was generally poor. The home textile industry segment fell by 11% on average in one month. At present, it is difficult to estimate the extent of decline in performance growth in the second half of the year, and whether the performance after the reduction can be achieved still needs further testing. In the clothing sector, we continue to focus on companies with strong performance certainty.

　　 spin The performance of the company was at a low point in the second half of last year, and the pressure on the performance of the company was less than that of the clothing company on a year-on-year basis. However, at present, the export market and the domestic demand market have not improved significantly, and the opportunity for large-scale recovery of the industry is small. But you can look for companies whose performance in the second half of the year is lower than the market expectations.

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